All That Glitters is not Green: Greenwashing Interventions as the Enforcement Arm of Sustainable Finance Regulation

Abstract

‘Greenwashing’ has become a buzzword in efforts to address global sustainability challenges and particularly the impacts of climate change. Despite the term being commonly invoked, it has lacked a clear legal definition. This article fills this gap. It frames ‘greenwashing’ intervention as the enforcement arm of sustainable finance regulation and places redress for actual or potential harm by corporate and financial sector entities to the market system and market participants at its heart. Significantly, this means that greenwashing must be seen as only one tool that compliments a broader legal and regulatory architecture for sustainable finance.